Lottoken is disrupting massive markets across a wide variety of industries. From corporate raffles, to school admissions, to airplane seat assignments, to housing allocations and even organ transplants — Lottokens have a huge number of use cases. Lottoken harnesses the power of a decentralized Ethereum blockchain and makes the impossible possible.

Sponsors/Organizers/Participants: 35% This group of consumers will be able to purchase 50% of this quota of tokens through first round of ICO. There will be other rounds of coin offerings from this quota in future.

Developers: 20%We believe that the developer community will be crucial to making the Lottoken service work for variety of needs ranging from visa allocation, school admissions to organ donor selection. Hence we want to heavily incentivize the developers to enhance our platform.

Internal Lottoken: 45%.This quota of tokens can be used for platform development, future applications or testing purpose. This will also be used pay variety of fees and costs to make Lottoken platform run smoothly for its consumers.

The various stakeholders are as follows:

Organizers:They may seed the contests by contributing. a portion of the winning prize with Lottoken tokens. They will use the Lotto tokens to pay various fees like random number service fee.

Participants:They will use Lottoken tokens for paying participation fees. They will use Lottoken tokens for buying the tickets in order to contribute to the winning pool.

Developers: They will want to build features and contest templates on the platform: Transparency and openness are the core foundations of the Lottoken service. Therefore Lottoken software will always be opensource letting other developers to contribute. Lottoken will reward developers who fix bugs and add features with the Lottoken tokens. Developers providing value added services like random number service can collect their fees in Lottoken tokens.

Sponsors: Sponsors are individuals or organizations who would support contests and typically contribute additional lottokens to a contest’s pool proportional to the size of the pool. This is very popular in non-profit fundraising where philanthropic organizations offer matching funds.

What are the terms of the Lottoken ICO ?

The terms of the ICO are:

Number of Lottoken tokens sold will determine total Lottoken token supply.

Number of Lottoken tokens sold in this ICO is 50% of the quota allocated for Sponsors/Organizers/Participant. For example: If 35.000,000 Lottokens get sold, total Lottoken supply will be 35,000,000 * (1/.5) * (1/.35) = 200,000,000

Method of offering : Fixed price at 0.01 ether per token face value

Fractional quantity of Lottoken can not be bought in ICO but can be later on purchased/sold on exchanges

Lottoken sounds like a project with a future and it's in interesting industry.

I want to know more about your RNG. Why you are not using the provable fair algorithm popular around? They are proven to work and to be fair. If your RNG is with closed code, it will never gain a real trust from crypto community.

GREAT QUESTION ! Thank you for asking. (BTW: are you involved in www.diceback.com ?) I'm going to respond your questions one by one.

1. We researched the universe of RNGs and found that No traditional RNG is "truly" decentralized. In a decentralized environment, your traditional RNG will either be easily compromised or it won't be random at all . For example - take the standard linux implementation of random (http://man7.org/linux/man-pages/man2/getrandom.2.html or https://linux.die.net/man/3/random or https://www.systutorials.com/docs/linux/man/4-random/ ) - all of them are actually very easy to compromise in a decentralized environment when you have no control over which machine your EVM is running. Why ? because - to remain random - these RNG's need a seed variable which must be random (many algos seed from /dev/urandom or /dev/random) but each machine can hijacked by a bad actor who can plant his own seed (no pun intended) at /dev/random (or urandom) that makes it easy to predict the random number - and then the bad actor can participate in our contests with the knowledge of what the outcome would be. This would beat the whole purpose of the contest.

2. There are sites such as random.org that purportedly generate random numbers for you, but guess what ? random.org is NOT DECENTRALIZED ! Why should we use a non-decentralized random number generator in blockchain when we are doing all this work to remain decentralized ? It simply does not work. If you want to be strict about having truly fair and random decentralized contests, like we are, then we need a truly decentralized RNG as well.

3. So what did we do ? We discovered our own algorithm and filed a patent with the United States Patent Office. The patent is pending as of this moment but we are hopeful that we will get a patent issued soon since this is so unique and novel and no one has solved it. We'd like to believe that we are the first ones and we will get the patent.

4. We are COMPLETELY in favor of openness and transparency and our code will be open. We're committed to it. But we need to get the patent so that our intellectual property is secured. And then we will offer it as as service so that any game or contest or application can use it. In the mean while, feel free to check out our contests at http://bit.ly/lottoken_organize and read our WP at http://bit.ly/lottoken_wp - we have gone over many of the issues you asked in your question with answers.

We'd love to hear your thoughts. Please let us know if you see a better way to do this. Again, we greatly appreciate your interest.

Lottoken sounds like a project with a future and it's in interesting industry.

I want to know more about your RNG. Why you are not using the provable fair algorithm popular around? They are proven to work and to be fair. If your RNG is with closed code, it will never gain a real trust from crypto community.

PS:Also provable fair RNG does not work in case of Lottos or contests ran in a real world operational flow on blockchain. It is prone to collusion (player/player, organizer/player) attacks.

We purposely didnt want to make the user experience different from that of playing lotto in real life where you buy ticket once and just wait for drawing. If we make players follow additional steps then it is not same as contests or Lottos.

Guys, I here read your information and so I couldn't understand an essence of your project.Do you want to create the platform for the organization of competitions? And in what this platform will favourably differ from other millions of same platforms? In what competitive advantages?

Few important differences from so called other million companies - WE'RE GOING TO DISRUPT ALL OF THEM

1) Ours is a pure platform. We are not operating any contests ourselves or collecting coins from people to let them take part in contests. Think of us like evite. Just like evite does not organize any events or parties, we do not organize any contests ourselves.

2) We have technology to make random number generation completely secure, fair and trustworthy for contests especially when stakes are high. Solutions used by current platforms are prone to collusion or trusting some external entity like random.org.

3) Most importantly we are US based company, not some offshore tax-haven incorporated company. Founders have proven track record and their name/faces are right there on the website. Lottoken is not there to just sell tokens but to run a long term business which will disrupt $100B+ contest market.

4) Have you organized our contests or participated in any contests ? Please Click here to organize and Click here to participate in our contests. We have our live contracts deployed on mainnet . You will experience first hand how LOTTOKEN IS COMPLETELY DIFFERENT THAN ANY OTHER PLATFORM . Don't believe what you read from any ICO vendor. Try out the technology first hand. That is the best way to understand a true technology.

I can vouch that this is a 100% legitimate project. The founders have put in a ton of effort.The best part of this platform is that you can create your own lottery and run is fairly !!! This is completely unique in the crypto industry. It will shake up the entire industry completely. nothing like this out there. I'm buying as many Lottokens I can myself.

I can vouch that this is a 100% legitimate project. The founders have put in a ton of effort.The best part of this platform is that you can create your own lottery and run is fairly !!! This is completely unique in the crypto industry. It will shake up the entire industry completely. nothing like this out there. I'm buying as many Lottokens I can myself.

Did you check out the contest on Lottoken.org where you can win upto 1 Ether in contests?